Conagra Brands, Inc. (NYSE:CAG) stock fell in Wednesday’s premarket session after the packaged food maker reported fourth-quarter fiscal 2026 results that beat adjusted earnings estimates but issued weaker-than-expected fiscal 2027 guidance, citing persistent inflation in beef, oil-related inputs and logistics, and cut its quarterly dividend in half.
Earnings Beat, Revenue Miss
Adjusted earnings came in at 47 cents per share, topping the Wall Street estimate of 46 cents. Revenue increased 3.6% year over year to $2.882 billion, essentially in line with expectations at just below the consensus estimate of $2.888 billion.
The company reported a GAAP loss of $3.37 per diluted share, compared with earnings of 53 cents a year earlier, reflecting about $2 billion in noncash goodwill and brand impairment charges. Adjusted earnings per share declined from 56 cents.
Organic sales were flat as a 1.6% increase in price and mix offset a 1.6% decline in volume. Reported sales benefited from the 53rd week and favorable foreign exchange but were partly offset by acquisition and divestiture activity.
